Franklin Street Properties Corp. (NYSE:FSP) Plans Quarterly Dividend of $0.01

Franklin Street Properties Corp. (NYSE:FSP) announced a quarterly dividend on Friday, July 5th, Wall Street Journal reports. Investors of record on Friday, July 19th will be paid a dividend of 0.01 per share on Thursday, August 8th. This represents a $0.04 annualized dividend and a yield of 2.33%. The ex-dividend date is Friday, July 19th.

Franklin Street Properties has decreased its dividend payment by an average of 47.7% per year over the last three years. Franklin Street Properties has a payout ratio of -12.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Franklin Street Properties to earn $0.11 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 36.4%.

Franklin Street Properties Price Performance

FSP stock opened at $1.72 on Wednesday. The company has a market capitalization of $177.90 million, a PE ratio of 6.60 and a beta of 0.82. Franklin Street Properties has a one year low of $1.47 and a one year high of $2.72. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.57 and a current ratio of 2.57. The company’s fifty day moving average price is $1.73 and its 200-day moving average price is $2.09.

Analyst Ratings Changes

Separately, StockNews.com downgraded Franklin Street Properties from a “hold” rating to a “sell” rating in a research report on Saturday, April 13th.

About Franklin Street Properties

Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on infill and central business district (CBD) office properties in the U.S. Sunbelt and Mountain West, as well as select opportunistic markets. FSP seeks value-oriented investments with an eye towards long-term growth and appreciation, as well as current income.